Stepping Up Your Money Saving Habit as Successful Peoplepublished on
The road to happiness is long, and we have talked about how you need to dream big, plan precisely, take action with small steps, as well as being aware of your habits to be healthy and positive. We can train our mind and body to spiritual healing and away from misery if we are monks and nuns. But in practice, we can’t avoid this thing, MONEY. Not many of us have to get rich or be a millionaire, but personal finance must be part of our life.
The purpose is not to make more money to buy irrelevant stuff and pursue luxury lives but to able to afford basic things. As most of us were brought up poor or in the middle class, I know you understand the feeling of hopeless and depressed when we trade-off or give up our dream, our policy or our sanctity. We need a certain amount of money to feel secure and hold self-esteem. Saving money is more than just for paying your upcoming expenses and bills and your retirement plan.
Saving money is one small step for a living, but one giant leap for life. This means that you’re away from paying off your debit or credit card bill each month. It’s the first step to gain the degree of your financial freedom in the rest of your life.
Do you know about Rich Habits?
In the book “Rich Habits: The Daily Success Habits of Wealthy Individuals” the author, Tom Corley, mentioned one important rich people’s habit is regularly saving money.
Another expert Grant Cardone, the author of “The 10X Rule: The Only Difference Between Success and Failure”, advocated that you don’t first need money to get rich” in another word, the reality is, more than three-quarters of all millionaires today are first generation millionaires, which means that ordinary people get rich because they dared to follow up on their ideas. He asserted that “it takes money to make money.” is a misconception. It is, however, “chance and fortune favor the prepared mind.” It is prudent to keep a percentage of your earning in saving or investment.
Related: 5 Popular Daily Habits of Successful People
Chinese people represent wealth with water. They say if you store a tank of water, you don’t need to walk to fetch water every day. You won’t worry about water to use when you are sick for a few days or getting old. But the water storage won’t last long. Modern civilization builds reservoirs and water pipes. Nowadays we pay for the water supply system instead. Similarly, we won’t get rid of a boring job if we just save money. We need to invest this savings in other to multiply it.
Establish a Financial Awareness with STEP+ Planner
So how do I practice the rich habits? I start with the STEP+ Planner. I don’t use it to record expenses or calculate a balance. You can do this with Excel or Google Spreadsheet, or leave it to an accountant. Instead, I mark down the budgets and unexpected expenses at the weekly saving tracker. This action reminds us and prevents us from the bad habits of being a pretender spender.
As an entrepreneur, I have to think about more than just saving money in my pocket. Learning how to utilize the capital is crucial to pushing my business forward and enhances the conversions of my investment. The way of the rich is to exchange dollar for time because they know time is more valuable than money. They hire people to teamwork and work as a part of their wealth system.
The finance tracker is an estimator for understanding whether I invest efficiently so that I will better avoid the big money mistakes of rookie entrepreneurs, such as going too large, falling into the temptation of buying new equipment and misunderstanding my needs between money and time.
Related: The Benefits of A Weekly Review Process
How do you use your planner to manage your finance? I look forward to hearing your comment.